News Column

Nevada Gaming Revenue Starts to Bounce

Dec. 7, 2012

Cy Ryan, Las Vegas Sun

Gambling

Gaming revenue in Nevada increased 1.8 percent in October to $978.8 million and was up by 3.6 percent on the Las Vegas Strip compared to the same month a year ago.

For this fiscal year, the state has collected $281 million in taxes, a 6.1 percent increase over the same period of last year, the Nevada Gaming Control Board reported.

On the Strip, which accounts for more than 50 percent of the state's gambling business, revenue rose to $580.7 million.

The increase on the Strip was fueled by an 11.3 percent rise in slot machine revenue. Michael Lawton, senior research analyst for the board, said casinos statewide won $50.8 million from roulette, a record for the game. The win was 174 percent higher than October 2011. The casinos held 22.7 percent of money wagered, compared to an average of 16.6 percent for the year.

Downtown Las Vegas casinos had an increase in gross win of 0.8 percent; the Boulder Strip was up 8.3 percent; North Las Vegas was up 0.7 percent; Laughlin fell by 0.9 percent; Mesquite was off 6.1 percent; and the balance of Clark County fell 2.2 percent.

Washoe County suffered a 7 percent decline in gross gaming win; South Lake Tahoe inched up 0.7 percent; Elko County fell 2.1 percent; and the Carson City area dropped 5.5 percent.



Source: (c) 2012 the Las Vegas Sun (Las Vegas, Nev.) Distributed by MCT Information Services


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